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Cash Paid for Common Stock Purchased and Retired
 12 Months Ended
Dec. 31, 2024
Cash Paid for Common Stock Purchased and Retired  
Cash Paid for Common Stock Purchased and Retired

Note 13: Cash Paid for Common Stock Purchased and Retired

The Company has a stock buyback program to repurchase up to 49,578,125 shares in the open market. As of December 31, 2024, 12,768,870 shares remained available to be repurchased under the current authorizations. The program does not have a preset expiration date. Repurchases of shares of the Company’s common stock may be made from time to time in the open market, by block purchases, in privately negotiated transactions or in such other manner as determined by the Company. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the Company's shares, general market and economic conditions, and other factors. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or discontinued at any time.

Shares purchased for withholding taxes represent taxes due upon vesting of time-lapse restricted shares granted to employees. Total share repurchases for 2024 and 2023 year-to-date are detailed below:

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Year ended December 31, 2024

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Year ended December 31, 2023

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No. of Shares

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Avg. Price

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Total Cost

    

No. of Shares

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Avg. Price

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Total Cost

(in thousands except per share data)

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Shares purchased for withholding taxes

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333

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$

7.28

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$

2,426

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257

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$

9.24

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$

2,370

Open market purchases

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1,010

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7.44

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7,512

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2,469

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7.58

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18,718

Total

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1,343

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$

7.40

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$

9,938

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2,726

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$

7.74

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$

21,088

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Excise tax payable on share repurchases totaling $136 thousand in 2024 and $22 thousand in 2023 has not been included in the amounts shown above.

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